The median household income in the US is $49k, I believe. 40% of households spend more than they bring in and have considerable consumer debt. Of course, 50% of households make LESS than $49k income and 2+ kids.
This is their "best values" list. Nowhere is a $25k over 4 year school that I can see.
You'll need to account for living expense, textbooks, etc., for those 4 years as well (or maybe you're assuming that our hypothetical student can find a supporting job while going to school-- note that youth unemployment is approx. 2X the national average, and that the cheaper schools here are in states with generally higher unemployment).
Saying that college is reasonably affordable for most americans is just crazy.
All that aside, my hypothesis is that college impacts success (STEM-degrees having a higher impact), but that socioeconomic starting point has more of an impact. When you have three things that are highly correlated (success, starting point, and education) it's really hard to argue for causation with controlling for the third variable. When I look at all of my high-school peers who didn't finish college, they're all employed and making great money (I went to a mediocre private school in Maryland), but half of contemporary college grads (presumably most near the median background) can't find jobs (http://www.cbsnews.com/8301-18563_162-57434159/half-of-colle... ).
The median household income in the US is $49k, I believe. 40% of households spend more than they bring in and have considerable consumer debt. Of course, 50% of households make LESS than $49k income and 2+ kids.
Here's a list of state schools with instate and out of state tuition: http://www.kiplinger.com/tools/colleges/
This is their "best values" list. Nowhere is a $25k over 4 year school that I can see.
You'll need to account for living expense, textbooks, etc., for those 4 years as well (or maybe you're assuming that our hypothetical student can find a supporting job while going to school-- note that youth unemployment is approx. 2X the national average, and that the cheaper schools here are in states with generally higher unemployment).
Saying that college is reasonably affordable for most americans is just crazy.
All that aside, my hypothesis is that college impacts success (STEM-degrees having a higher impact), but that socioeconomic starting point has more of an impact. When you have three things that are highly correlated (success, starting point, and education) it's really hard to argue for causation with controlling for the third variable. When I look at all of my high-school peers who didn't finish college, they're all employed and making great money (I went to a mediocre private school in Maryland), but half of contemporary college grads (presumably most near the median background) can't find jobs (http://www.cbsnews.com/8301-18563_162-57434159/half-of-colle... ).